Welcome, Guest: Register On Nairaland / LOGIN! / Trending / Recent / New
Stats: 3,155,883 members, 7,828,140 topics. Date: Wednesday, 15 May 2024 at 02:37 AM

Is It Possible For An Amateur Forex Trader To Make Sustainable Profits Trading. - Investment - Nairaland

Nairaland Forum / Nairaland / General / Investment / Is It Possible For An Amateur Forex Trader To Make Sustainable Profits Trading. (135 Views)

EFCC Nabs Forex Trader For Failing To Fulfil 35% Monthly ROI / The Richest Forex Trader In The World! / Made Profits Trading Forex? (2) (3) (4)

(1) (Reply)

Is It Possible For An Amateur Forex Trader To Make Sustainable Profits Trading. by Newminer606: 1:53am On Jul 31, 2023
I started when I was 18 years old. Without any knowledge I made 20k from 5k USD.. But guess what I lost all when started increasing position when price goes against me. So huge trend killed my deposit.

Then I started to learn technical and fundamental analysis. I have all this education but I keep losing even more.. I always asking myself same question: “What the hell is happening…How I can lose again and again If I already got this skills…”

I was searching every day for profitable strategy, readying forums… All this strategies where working on period of time. And I was losing again and again.

So 5 years passed…

After that I created my own strategy where I do not care on market situation… means if price goes up or down I always stay in profit. But it’s losing on big trends.

This strategy is super powerful.. Even with small starting balance I was able to make tons of money. For example my starting balance was $1000 and in 1 month I made $30 000. But I was not able to control risks and in results I keep losing all profit. But at least I was able to stop my self in order to not lose my starting balance… So I was generating huge profits but I was not able to save it.

Guess what idea I created: I know that I can create volume of trades but in results I will always lose… and broker always receive commission from my trades so I joined affiliate program in order to get part of brokers commission..

So next 2 years I was trading like this: I was trying to make more money from small starting balance, my deposit growing till $10–$30k and results was same..losing profit BUTsmiley getting around $800 back in affiliate commission.

When I spend 8 years in trading something changes in my mind.. I thing I become older smiley I stopped trading to aggressively and focused on long term..

Thing what was always killing my deposit was: a wish to make more money.. and this why I was using to much leverage, opening big lot size… And when you have big lot size or huge position already - when all goes against you - then trader not able to control his emotions.. that makes situation even worse.

Now I make 10% per month in average or 100–120% per year. Everything is stable and Forex trading for me it’s something usual.. same as car driving.

Advise what I can give after spending 10 years of my live in Forex trading: First thing what you should learn is Money Management and Risk control. After that create own trading strategy. Always follow Money Management and your system. Every trade what you open - you should able to explain your self - why you open this trade at this price. Be constant and remove emotions in trading. If not able to handle with emotions - trade with minimum lot to practice.
I hope this story will help to someone. Don’t forget to comment below your experience on forex.
Re: Is It Possible For An Amateur Forex Trader To Make Sustainable Profits Trading. by imoh4king(m): 5:32am On Jul 31, 2023
I have being trading for the past 12 years. Started with fundamental then later included technicals in my strategy still made loss end of the day.

Followed guys like Steve Nlsson, Henry Liu, Kathy Lien, Bill Lipschuz and found out they made more money from teaching than trading.

Bottom line is YOU CANT MAKE MONEY as a retail trader because of the market dynamix.

95 percent of traders lose their funds and the remaining 5% are large institution with softwares like algorithm and inside news YOU WILL NEVER BE PRIVILEGE TO GETTING.

Wish you luck.

1 Like 1 Share

(1) (Reply)

CAC Website Is No Longer Functioning And People Have Been Frustated / Free Money / � Unlock Financial Freedom With Winwise! Play And Prosper Today! �

(Go Up)

Sections: politics (1) business autos (1) jobs (1) career education (1) romance computers phones travel sports fashion health
religion celebs tv-movies music-radio literature webmasters programming techmarket

Links: (1) (2) (3) (4) (5) (6) (7) (8) (9) (10)

Nairaland - Copyright © 2005 - 2024 Oluwaseun Osewa. All rights reserved. See How To Advertise. 13
Disclaimer: Every Nairaland member is solely responsible for anything that he/she posts or uploads on Nairaland.